Speaking in Sapporo, BOJ board member Takata Hajime (高田創) said the policy rate should be managed “nimbly, without being constrained by set intervals or increments,” emphasizing the need for an early additional rate hike. The BOJ raised the rate to around 1.0% in June and left it unchanged in July, but Takata Hajime (高田創) was the sole dissenting member, arguing for a rate hike. The next policy meetings are scheduled for September, October and December.
Speaking in Sapporo, BOJ board member Takata Hajime (高田創) said the policy rate should be managed nimbly, without being constrained by the intervals or increments of rate hikes, and called for an early additional hike.
The article reports that Takata Hajime (高田創) expressed the view that the BOJ should respond to developments in other countries, including the European Central Bank and the US Federal Reserve. The BOJ raised its policy rate to around 1.0% at its June monetary policy meeting, while at the July meeting Takata Hajime (高田創) was the only member to oppose the decision, arguing for a rate hike despite majority support for leaving rates unchanged.
The meetings scheduled for the remainder of the year are in September, October and December, and attention is focused on the direction of monetary policy.